Meandering down
From the looks of it, the PPMs have topped and are on the way down. Same goes for the SMAs.
While the longer period SMAs are still relatively flat, the short term 10 SMA is losing steam and turning downward. This puts a damper on price establishes a short term ceiling.
I would expect some drifting downwards over this week as the PPMs work their way into the SMAs.
However, it is best not to get overly bearish too soon as the weekly chart still shows some positive momentum over the next few weeks.
While the longer period SMAs are still relatively flat, the short term 10 SMA is losing steam and turning downward. This puts a damper on price establishes a short term ceiling.
I would expect some drifting downwards over this week as the PPMs work their way into the SMAs.
However, it is best not to get overly bearish too soon as the weekly chart still shows some positive momentum over the next few weeks.
Aviso legal
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